How does Bitcoin affect a country's existing monetary system?

At present, the development prospect of Bitcoin is full of unknowns. On the one hand, its innovative ideas and reliable technology have attracted many people's attention; On the other hand, due to the lack of credit and the confrontation with the existing monetary system, it is difficult to get wide public recognition.

1. Impact on the financial system

It is estimated that the current total value of Bitcoin is about 40 million dollars. This amount is difficult to affect the existing financial system, so the first problem facing the development of Bitcoin is how to make it acceptable to more people. If Bitcoin becomes a currency recognized by a larger group, will it become a new monetary system to replace the existing financial environment? It may take a long time to evolve, but once it is established, it will inevitably change the existing economic order and traditional monetary theory. [This article was transferred from: lunwen. 1kejian.com]

2. The attitude of the government

This is crucial to the development of Bitcoin. Bitcoin's own monetary order, anonymous distribution and indirect protection of illegal transactions make it difficult for the government to recognize it. This uncontrolled currency circulation will inevitably affect the financial environment, and its own risks will also threaten the social and economic order. Therefore, it is difficult for governments to show encouragement and support for this uncontrollable virtual currency, which will be related to the smooth development of Bitcoin in the future.

3. Manifesto of Liberalism

Jason Calacanis, an American Internet entrepreneur and blogger, and his launching team concluded after a month's investigation on Bitcoin that "Bitcoin may be the most dangerous technology project since the Internet, and it is a political statement of technology liberals". [This article was transferred from: lunwen. 1kejian.com]

Indeed, Bitcoin, known as the first real electronic currency, has too many anti-traditions: it is equal and open, anonymous, issued by non-central institutions, and refuses policy supervision ... Therefore, many people commented that this is a challenge to the existing authority by anarchists and liberals. Whether Bitcoin is successful or not, I believe its ideas and ideas will bring us a lot of thinking.